Cap table calculator - create and export for free
Use this tool to build a cap table for free. Export it in pdf or Excel or save it to invite your shareholders. Ideal for early stage companies or startups.
How does the cap table builder work?
Building your first cap table for free only takes a few minutes, insert:
- Valuation event name: the last founding round raised (pe Seed, Series A…). If your company has not been incorporated yet, use “Incorporation”.
- Pre-money valuation: the value of your company as of today. If your company has just been incorporated or has not received a capital injection, use the total capital contributed by the shareholders.
- Date: the last day where your cap table suffered changes.
- Share class: companies create different types of share classes to accommodate investors’ requests for additional rights. To simplify it in this simulation, only Common shares are available, but you can define several preferred share classes upon creating your free Capboard account.
- Price per share: usually 1. Otherwise it will automatically be calculated once we fill the next cells.
- Shareholders: Include the full name or legal entity name of all your shareholders, with the capital they have provided when incorporating the company or on later funding rounds. The amount of shares is automatically calculated from the pre-money valuation and the cash contribution.
- Beneficiary name: if one of your shareholders is a fund or a company, you may want to add the person leading the relationship with your company. (optional)
- Investment: is the amount each shareholder has invested in the company.
- Amount of shares: automatically calculated based on the company’s valuation and each shareholder’s investment.
How to export the cap table
Once you have completed your cap table, you save it on Capboard, which would allow you to export it and to keep a digital version of your cap table, invite all your shareholders and manage your equity plans. This is free if your company has less than 25 shareholders.
How can I add an additional share class?
It is not possible with our free cap table builder. However, if you sign up to Capboard, you will be able to add unlimited new share classes with different rights: vote rights, liquidation preference, anti-dilution…
How can I add convertible notes or equity plans?
If your company has received loans that could make the lender a shareholder of the company (convertible notes, venture debt) or the board has approved an equity plan for key employees, you can add the amount of shares your company will be issuing to cover them once you have saved the cap table. Those future equity commitments are the main difference between non-diluted and fully-diluted cap tables, as the latter take into account the different equity obligations.
Would investors ask for my cap table?
Yes, investors would usually want to see your cap table at the beginning of the relationship to know how the equity is split as of today, who has invested before… but also to identify potential red flags that could make the deal not viable, like:
- Founders that are no longer involved in the company owning a substantial percentage of the company.
- Founders being too diluted, which could be an issue due to lack of skin in the game.
- Having several advisors with equity that have not really invested.
Investors will also take another look at your cap table throughout the due diligence, but this time they will check the supporting documents to double-check the calculations are correct.
Why it’s important to keep your cap table up to date
The cap table needs to be updated every time there is a transaction that impacts or may impact the equity of the company, for example: funding rounds, convertible notes, venture debt, a new equity plan for key employees, warrants, a secondary transaction between shareholders…
If you have received capital from professional investors, you will be asked for the latest version of your cap table at least once a quarter, as they will have to report to their own investors (LPs) on the advances of their portfolio, the value of all the companies they have invested in, and so on.
With Capboard you can create your cap table digitally and for free if you have less than 25 shareholders. Start now!
If you are still looking for a cap table template for Excel, check this one out.